According to sources when highlighting India's economic growth, prime minister narendra modi, on november 3, said the country is among the top 10 destinations for foreign direct investment (FDI) in the world and had received $286 billion of FDI in the last five years. Meanwhile he was speaking at an event in Bangkok, to mark golden jubilee of the Aditya Birla Group's presence in Thailand.
Furthermore PM modi said it was the best time to be in india and that many things such as foreign direct investment, ease of doing business, ease of living and productivity are rising while tax rates, red-tapism, corruption, cronyism are on a decline. PM modi said “When my government took over in 2014, India's GDP was about two trillion dollars. In 65 years, two trillion. But in just five years, we increased it to nearly three trillion dollars”.
Moreover india has stopped working in a routine, bureaucratic manner as it is undergoing "transformative changes", PM modi told a group of influential business leaders, hard-selling the country as one of the most attractive investment destinations globally. Perhaps PM modi particularly talked about initiatives to reform India's tax regime and said his government is now starting face-less tax assessment procedure so that there is no scope for discretion or harassment.
